There’s a retail craze now.
Book your gains.
"Today’s reading marks the 35th consecutive month featuring year-over-year core CPI topping 3%" - Grant’s
“I thought they would allow this [“the GFC”] to correct properly, and then they didn't, you know? They bailed everybody out, and nobody went to jail, and, you know, that's when I really, really, really got pissed off, because there was a lot of wrongdoing going on at the time and it was all condoned, and, you know, some of the people that did the stuff became our public heroes.”
“The fact is that the backdrop drop of sluggish economies, let's put it that way, and policy makers that probably want to stimulate growth, is the best outlook one can imagine for financial markets. This is the ideal.”
Stocks
“I think going forward the main question is as the currency debasement occurs, where does it show up in terms of higher prices, because if you get very rapid, say, AI productivity, or energy supply growth, then the price increases are likely to show up in anything that's scarce. So Bitcoin, gold, high quality real estate, the stocks that are leading these trends. A lot of it's going to accumulate in asset price inflation, because you have more dollars chasing these kind of scarcer goods.”
“Passive strategies are now somewhere north of 40% of all assets, and they're all investing under the exact same rubric: what's the market capitalization of the stock, right? That's all they care about. They don't care about what the fundamentals are, they don't care about the direction, they don't care about the momentum components etc.”
Keep reading with a 7-day free trial
Subscribe to A Havenstein Moment. to keep reading this post and get 7 days of free access to the full post archives.